September 30, 2008

Corona Chamber Releases Statement on Financial Crisis

Rachel Rola, Chairman of the Corona Chamber's Board of Directors and Cynthia Schneider, Chairman of the Corona Chamber's Legislative Action Committee issued a letter this morning to United States Senators Dianne Feinstein and Barbara Boxer and Congressman Ken Calvert in response to the current financial crisis facing our nation:
 

Dear Senator Feinstein, Senator Boxer and Congressman Calvert:

The Corona Chamber of Commerce urges Congress to immediately pass the bipartisan financial rescue package to stem the financial panic. Congress must not adjourn without taking action to stabilize the financial markets.

Yesterday’s failure to approve legislation addressing the financial crisis has resulted in uncertainty and turmoil that have dramatically affected the markets, and lowered equity prices, eroding individual savings and destroying billions of dollars of household wealth. Make no mistake: when the aftermath of Congressional inaction becomes clear, Americans will not tolerate those who stood by and let the calamity happen. If, on the other hand, Congress supports a plan to successfully restore the financial system and preserve the flow of credit to the economy, the American people will recognize that act of courage.

The Chamber urges Congress to immediately pass financial rescue legislation.